Kane to succeed Satchell as ABI chair
Archie Kane, chief executive of Scottish Widows, is the new Chairman of the Association of British Insurers (ABI). He was appointed at the Association's AGM on 18 July and succeeds Keith Satchell who has concluded his two-year term.
Kane was appointed chief executive of Scottish Widows in 2003. He is also group executive director of the Insurance and Investments division at Lloyds TSB Group. He joined the main board of Lloyds TSB Group in 2000.
Kane said:"It is a great honour for me to become chairman at this exciting time for the industry. The industry has responded well to the recent floods around the country. We have made a defining contribution to the debate on pensions reform. And our work on regulation and corporate governance is of the highest quality.
"I am particularly keen to work closely with all the new ministers and politicians of all parties to promote a better understanding of the role and value of insurance in the modern world. The EU is now introducing its Solvency 2 Directive which heralds a major step forward in the financial regulation of European insurance companies. And we will be looking to the new chief executive of the FSA to continue the momentum behind the regulator's move to principles-based regulation.
"This is a full agenda and I am delighted to be taking up this role."
In other appointments, Otto Thoresen of Aegon becomes chairman of the Life Insurance Committee and Ian Geden of NFU Mutual continues as chairman of the General Insurance Committee.
The following join the ABI Board for the first time:
Tim Breedon, Group Chief Executive, Legal and General
Philip Moore, Group Chief Executive, Friends Provident
Andrew Moss, Group Chief Executive, Aviva
Keith Skeoch, Chief Executive Officer, Standard Life*
Chris Sullivan, Chief Executive, RBS Insurance
*also Chairman of the ABI Investment Committee
